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Legal settlements and loss contingencies | 6 Months Ended
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Jun. 30, 2018
Legal settlements and loss contingencies | NOTE 15 – Legal settlements and loss contingencies: In the second quarter of 2018, we recorded expenses of $20 million for legal settlements and loss contingencies, compared to expenses of $324 million in the second quarter of 2017. The expenses in the second quarter of 2017 mainly consisted of a reserve for a judgement in GSK’s favor in connection with the carvedilol patent litigation (which judgement was subsequently reversed in the first quarter of 2018). In the first six months of 2018, Teva recorded income of $1.3 billion, compared to an expense of $344 million in the first six months of 2017. The income in the first six months of 2018 consisted primarily of the working capital adjustment with Allergan, the Rimsa settlement and reversal of the reserve recorded in the second quarter of 2017 with respect to the carvedilol patent litigation discussed above. As of June 30, 2018 and December 31, 2017, an accrued amount for legal settlements and loss contingencies of $667 million and $1.2 billion, respectively, was recorded in accrued expenses.

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- Definition The entire disclosure for legal proceedings, legal contingencies, litigation, regulatory and environmental matters and other contingencies. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 450 -URI http://asc.fasb.org/topic&trid=2127136 + Details
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